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IRCON IPO subscribed 9.85 times; may fetch govt Rs 466 crore

The IPO is of 99,05,157 shares with a price band of Rs 470-475 per share. The government is selling 10.5 per cent stake or about 99.05 lakh equity shares, including 5 lakh shares to employees.

By PTI

Thursday, September 20, 2018

Railways engineering and construction firm Ircon International's initial public offer was subscribed 9.85 times on the last day of bidding on Wednesday. The public offer received bids for 9,75,82,860 shares against the total issue size of 99,05,157 shares, data available with the NSE till 1945 hrs showed.

The IPO is of 99,05,157 shares with a price band of Rs 470-475 per share. The government is selling 10.5 per cent stake or about 99.05 lakh equity shares, including 5 lakh shares to employees.

"The government is expected to raise Rs 466 crore from the issue," an official release said on Wednesday.